Airbus Forecasts 10,000 New Planes for Asia by 2031

Airbus CEO John Leahy said airlines in the Asia-Pacific market will require nearly 10,000 new passenger and cargo aircraft over the next 20 years, driven by rising incomes, increased passenger demand and the growth of low cost carriers in the region.

Leahy gave a speech in Singapore on Monday, stating the region would require 6,030 narrowbody, 3,080 twin-aisle and 760 high-capacity aircraft at a market value of $1.6 trillion.

Asia-Pacific carriers will require 35 percent of all forecasted new aircraft deliveries worldwide by 2031, according to Airbus.

“The Asia-Pacific market is where the action will be in the air transport market over the next 20 years,” said Leahy. “Growing economies, bigger cities and increasing wealth will see more people flying, driving the need for larger and more efficient aircraft.”

Airbus said low-cost carriers in the region have increased the number of routes they serve by seven percent annually over the last decade, a growth rate that will generate demand for more than 6,000 new single aisle aircraft in the region. More